Schwarzer, 41, headed to Stamford Bridge last summer on a free transfer from west London neighbours Fulham to offer back-up to Petr Cech.

The former Australia international made 12 starts and a single substitute appearance -- in the Champions League semifinal first leg against Atletico Madrid.

Left-back Cole also leaves Chelsea this summer after an eight-year spell at the club which saw him won the Champions League, the Premier League and become the player with more FA Cup winners' medals than any other with seven.

In a look back at his Stamford Bridge career on Chelsea's official website ended with by saying: "Chelsea Football Club thanks Ashley for the fantastic service he gave throughout his eight years here, and for helping to bring so many trophies home. We wish him well for the future."

However, Blues manager Jose Mourinho has already started to rebuild his squad with the signing of former Arsenal captain Cesc Fabregas from Barcelona and Atletico Madrid's Spain international forward Diego Costa -- rated at around 32 million pounds -- is another well-documented target.